Why do I need a lawyer?

Why do I need a lawyer?

Buying a condo is wonderful, but it isn’t simple, especially when it comes to the legal stuff. That’s where a good real estate lawyer comes in. You want one who’s experienced but also one who really knows condos - buying a condo is significantly different from buying a house, so you need someone who knows a status certificate from a special assessment, and knows the intricacies of the market, what red flags to look for, and every bit of paperwork that’s needed to get the job done.

So what does a real estate lawyer do, exactly?
They have multiple responsibilities throughout the process, from verifying your offer is being made correctly, to reviewing documents once an offer is accepted, to preparing government documents when the property closes.

Once you’ve signed the offer, the lawyer looks at:

  • The status certificate (the report card for the building and unit)

  • Property taxes and utility accounts to ensure they have been paid

  • The status of any mortgages the seller has on the property

  • Details of your financing

  • Compliance with any restrictions, warranties, conditions and agreements

  • Any relevant documents prepared by the seller’s lawyer

Your lawyer will also search the title of the property and confirm the name of the registered owners and investigate any claims or charges registered against the property (mortgages, builder’s liens, easements, rights of way, judgements, leases, etc.).

Then, after closing, they’ll provide and have you sign all the documents and records required for the final sale. Think titles, deeds and purchase agreement. Plus, they will ensure the seller has met all of your conditions and considerations in your offer. They will also make sure that any adjustments to the purchase price that needed to be made given their findings have been done correctly.

Bottom line, the lawyer works closely with your real estate agent to ensure you’re getting exactly what you bargained for, and weeds through all the legalese - and puts you at ease.

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